David Stanton (Cork East, Fine Gael)
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Question 1195: To ask the Minister for Justice and Law Reform further to Parliamentary Question No. 367 of 6 July 2010, when the Property Services Regulatory Authority was established; the funding allocated and expenditure incurred each year since its establishment; the number of persons employed by the authority; their job description and functions; when he expects the authority to begin operating on a statutory basis; and if he will make a statement on the matter. [34105/10]

David Stanton (Cork East, Fine Gael)
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Question 1196: To ask the Minister for Justice and Law Reform further to Parliamentary Question No. 349 of 9 February 2010, the progress that the Property Services Regulatory Authority has made in establishing and administering a comprehensive licensing system covering all providers of property services, such as auctioneers, estate agents, letting agents and property management agents, collectively known as property services providers; when he expects this extended system to replace the current licensing system for auctioneers and house agents under the Auctioneers and House Agents Acts 1947 to 1973; the number of audits and inspections of property service providers the PSRA have conducted to date in 2010 as part of a general compliance and enforcement function; and if he will make a statement on the matter. [34106/10]

David Stanton (Cork East, Fine Gael)
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Question 1197: To ask the Minister for Justice and Law Reform further to parliamentary Question No. 349 of 9 February 2010, if the Property Services Regulatory Authority has established and is administering a system of investigation and adjudication of complaints relating to the provision of property services; if a compensation fund has been established to compensate parties who lose money as a direct consequence of the dishonesty of a licensee; and if he will make a statement on the matter. [34107/10]

Dermot Ahern (Louth, Fianna Fail)
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I propose to take Questions Nos. 1195 to 1197, inclusive, together.

I wish to refer the Deputy to Questions Nos.367 of 6 July 2010, 486 of 22 April 2009, 349 of 9 February 2010 and 128 of 17 February 2010 which provided detailed information on the proposed work of the Property Services Regulatory Authority which will be established on a statutory basis when the Property Services (Regulation) Bill 2009 is enacted.

The Property Services (Regulation) Bill 2009 has completed all stages in the Seanad and is awaiting Second Stage in the Dáil. The Scheduling of the Bill in the House with a view to its enactment is a matter for agreement between the party whips. I would like to remind the Deputy that the main functions of the Authority include the following, as I indicated in my response to the PQs referred to above:

Establishing and administering a comprehensive licensing system covering all providers of property services, (i.e. Auctioneers, Estate Agents, Letting Agents and Property Management Agents — collectively known as Property Services Providers). This extended system will replace the current licensing system for Auctioneers and House Agents under the Auctioneers and House Agents Acts 1947 to 1973;

Setting and enforcing standards for the grant of licences (e.g. educational/training standards; levels of professional indemnity insurance) as well as standards to be observed in the provision of property services by licensees;

Establishing and administering a system of investigation and adjudication of complaints relating to the provision of property services, including the imposition of sanctions as appropriate;

Conducting audits and inspections of Property Services Providers as part of a general compliance and enforcement function;

Developing and enforcing Codes of Practice;

Promoting increased consumer protection and public awareness (where appropriate in liaison and cooperation with other statutory bodies and relevant professional and consumer bodies) of property services in general and the cost to consumers, risks and benefits associated with the provision of those services;

Producing guidance material for the industry and the public;

Establishing, maintaining and administering a Compensation Fund to compensate parties who lose money as a direct consequence of the dishonesty of a licensee.

Enforcing licensees obligations under the legislation through general investigations, inspections and court prosecutions;

Liaison and cooperation with overseas Authorities.

Pending enactment of the legislation, the PSRA Implementation Group was established, on a non statutory basis, to assist and advise on practical matters relating to the establishment of the new Authority and a Chief Executive designate was appointed and is working closely with the Group in making arrangements for the establishment of the Authority and its structures including the basic organisational structures, systems, procedures, protocols, rules and regulations, which are fundamental to the long term functioning of the Authority.

To date the PSRA Implementation Group has, in advance of the Authority being placed on a statutory footing, carried out much of the preparatory work necessary to enable it to carry out its statutory functions including:

the successful completion of the necessary arrangements for the acquisition and fitting out of accommodation for the Authority in Navan, Co. Meath;

drafting Codes of Practice for Auctioneers and Estate Agents, Letting Agents and Management Agents which identifies the key principles and values that should guide the day to day practice of service providers;

establishing a National Public Register of all licensed Auctioneers and House Agents.;

developing and putting in place financial and accounting systems for the Authority;

designing and developing a website as part of the education and awareness function;

designing and developing a computerised licensing and complaints databases suitable for the Authority's long term requirements;

developing and implementing an office, file management and data management system for the Authority;

developing the systems, procedures rules and regulations necessary for the establishment of a Compensation Fund, including prescribing the manner of reporting of losses sustained by clients and the procedures for applications for grants from the Fund;

developing the rules and regulations which will govern the level of professional indemnity insurance which a Property Services Provider must have in place including the Minimum Terms and Conditions of such insurance;

establishing a system of investigation and adjudication of complaints relating to the provision of property services;

preparing public information material on the provision of property services, including the purchase and sale of property;

drafting rules and regulations governing complaints procedures.

reviewing all aspects of the work undertaken by Property Services Providers in Ireland and equivalent services in appropriate comparable jurisdictions for the purpose of prescribing the minimum education/qualification requirements necessary for the grant of licences;

establishing protocols for the vetting of all applicants for licences;

drafting rules and regulations for the carrying out of investigations, inspections and audits of Property Services Providers' practices;

drafting rules and regulations governing the operation of Property Services Providers' accounting procedures including the manner of keeping all accounting records;

drafting rules and regulations governing the operation of client accounts;

prescribing the rights, duties and responsibilities of Property Services Providers in relation to monies received, held, controlled or paid in connection with the provision of property services;

prescribing the rules governing the auditing of Property Services Providers' accounts.

Many of the rules and regulations which have been or are being drafted will be introduced once the Bill has been enacted. The work undertaken to date will ensure that the complex systems, procedures, rules, regulations and protocols, necessary for the effective operation of the Authority, can be put in place quickly following the passing of the legislation.

With regard to current staffing levels at the PSRA pending the enactment of the legislation to establish it on a statutory basis, there is a Chief Executive designate, six full-time and two part-time staff.

The PSRA has incurred expenditure of €347,000 from 1 January 2010 to 31 August 2010. With regard to earlier years I wish to refer the Deputy to the Abridged Estimates Volume for Public Services 2010 and the Revised Estimates for Public Services for each of the years concerned. Copies of the Abridged Estimates Volume for Public Services and the Revised Estimates for Public Services are available at www.finance.gov.ie and in the Oireachtas Library.

Once the Authority has been put on a statutory footing it will be in a position to establish and administer a comprehensive complaints investigation system and a Compensation Fund to compensate persons for losses resulting from the dishonesty of Property Services Providers.